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Friday, October 19, 2018 5:27:30 PM EDT

Industrial Production Updated 14-Sep-18 09:44AM ET

Industrial production increased 0.4% in August, as expected, following an upwardly revised 0.4% increase (from 0.1%) in July. August marked the third straight month that industrial production has increased.

The capacity utilization rate increased to 78.1% ( consensus 78.3%) from a downwardly revised 77.9% (from 78.1%) in July.

Manufacturing output increased 0.2%, led by a 4.0% rise for motor vehicles and parts that was driven by the highest annual rate in motor vehicle assemblies (11.5 mln) since April.

Mining output increased 0.7%

The index for utilities output jumped 1.2%

On a year-over-year basis, industrial production is up 4.9%.

At 77.9%, the capacity utilization rate is 1.7 percentage points below its long-run average.

The key takeaway from the report is the understanding that factory output was unchanged, excluding the gain in motor vehicles and parts.
Industrial Production
Total Index0.4%0.4%0.6%-0.8%1.1%
Capacity Utilization
Total Industry78.1%77.9%77.8%77.4%78.2%